Lee Banks '85 Appointed Sr. VP at Parker Hannifin

October 25, 2006

October 25, 2006, Greencastle, Ind. - Lee C. Banks, a 1985 graduate of DePauw University, has been promoted to the position of senior vice president, operating officer at Parker Hannifin Corporation (NYSE: PH). Banks is one of three appointees to the newly-created position, announced today. Each is being given separate and defined responsibility for various Parker business groups and regions.

An announcement from the company notes, "Lee Banks started his Parker career in 1991 as an aftermarket sales manager, with a degree in economics [and] management from DePauw University and a Masters of finance & marketing from Keller Graduate School of Management. Mr. Banks has held a number of key positions with Parker, including general manager of Skinner Valve, vice president of operations for the Climate & Industrial Controls Group, president of the Instrumentation Group, and since 2003, president of the Hydraulics Group."

"Parker has become an elite diversified motion and control company by focusing on the goals of our Win Strategy: Premier customer service, financial performance and profitable growth," says Donald E. Washkewicz, chairman and chief executive officer of the company. "This team of executives that we are announcing today have proven their ability to execute the Win Strategy, and have helped drive Parker's performance to record levels. Our decentralized structure means that such talented leaders are able to have a significant impact and rise to take on more responsibilities in the organization. Together with this team of experienced, senior operating executives, we will continue to drive shareholder value by demanding accountability, execution and results from all of our operations worldwide."